MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, April 28, 2004 Probe Hits Home Across the Puddle Bloomberg is reporting that Amvescap Plc may be expecting costs of the New York Attorney General's investigation into improper mutual fund trading at Amvescap's Denver-based INVESCO Funds Group to run as high as $300 million. The estimate comes from a chart in an internal document mistakenly sent to analysts on Tuesday. It includes a $300 million "exceptional item" related to debt covenants. Company spokesperson Douglas Kidd told Bloomberg that the information came from "an internal working document that included a range of assumptions and no reliance should be placed on it." Recipients of the presentation, which contained forecasts of full-year performance and budget, were barred from trading on the information it contained until Amvescap made the document public on its website. Amvescap operates under the AIM, INVESCO and Atlantic Trust brands. Printed from: MFWire.com/story.asp?s=7104 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |